The Marginal Rate of Technical Substitution Between Labor (L) and Capital

question 49

Multiple Choice

The marginal rate of technical substitution between labor (L) and capital (C) equals

• A) MU_L/MU_C
• B) AVC
• C) MP_L/MP_C
• D) the capital-labor ratio
• E) the labor-capital ratio

---

Definitions:

Tactile

Relating to or perceptible through the sense of touch.

Visual

Relating to seeing or the ability to see.

Multi-sensory

Involving or using several or many senses simultaneously, such as sight, hearing, smell, taste, and touch, to enhance learning or experience.

Olfactory

Relating to the sense of smell.